Why OrganiGram Holdings Inc (OTCMKTS:OGRMF) Action is Coming Up Aces

Why OrganiGram Holdings Inc (OTCMKTS:OGRMF) Action is Coming Up Aces

SHARE

Shares of OrganiGram Holdings Inc (OTCMKTS:OGRMF) continue to impress by any standard, moving to new all-time highs to kick off this week. We suspect that traders are starting the drumbeat for a move to a major US exchange, following in the footsteps of ACB, CGC, and APHA. Not that there was anything on this theory in it, but the company just provided a general corporate update with some interesting notes. Those interested in the stock would be advised to take note of the details.

According to the release, “Organigram has appointed Helen Martin as Corporate Secretary.  Ms. Martin has been with the Company since November 2018 acting in the capacity of Vice-President, Strategic Initiatives and Legal Affairs. Ms. Martin has extensive experience in both securities law and corporate governance gained through her most recent role as Chief Operating Officer of a TSX listed issuer and through prior private practice experience with leading law firms in Canada.  Ms. Martin has also served as corporate secretary for a variety of listed issuers over the years.  Ms. Martin holds a Bachelor of Laws from the University of Toronto.”

OrganiGram Holdings Inc (OTCMKTS:OGRMF) casts itself as a company that produces and sells medical marijuana to individuals and physicians in Canada. It offers marijuana plants, seeds, and cuttings; cannabis oil; and dried flower and cannabis.

The company sells its products through phone and online store. It also operates healing centers that offer treatments for post-traumatic stress disorders, chronic pain, and trauma therapy. In addition, the company exports its products.

OrganiGram Holdings Inc. was founded in 2013 and is based in Moncton, Canada.

Moreover, OrganiGram Holdings Inc. is a TSX Venture Exchange listed company whose wholly owned subsidiary, OrganiGram Inc., is a licensed producer of medical marijuana in Canada. OrganiGram is focused on producing the highest quality, condition-specific medical marijuana for patients in Canada.

OGRMF’s facility is located in Moncton, New Brunswick and the Company is regulated by the Access to Cannabis for Medical Purposes Regulations.

According to company materials, “From the day we started back in 2013, it’s been about making lives better – for our clients, our people, and our community. We’re based in Moncton, New Brunswick, the heart of the Maritimes, but at OrganiGram Holdings we’re committed to improving the quality of life for Canadians across the country. For us, this means working with health-care providers and industry organizations, supporting research and education, and providing a safe, effective product. To be effective in that last goal, we made a decision to produce organic cannabis. Growing certified organic medical cannabis isn’t easy, in fact, most licensed producers won’t take this on. It means more care, more testing, more rules… but in the end, it means a product that we feel delivers on our goals in the best way. And improving the quality of life for Canadians is not just about getting safe, quality product to them effectively. It’s about creating jobs, being good neighbors and contributing to our community.”

Find out when $OGRMF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.

As noted above, OGRMF just provided a general corporate update with some interesting notes.

Recent action has seen 15% added to share values of the listing over the past week of action. Furthermore, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running 82% over the long run average.

In addition, the company also announced that, further to its news release issued on January 21, 2019, the company also has filed a notice for leave to appeal the certification of the class action brought against it. “Assuming leave to appeal is granted, the Company expects the matter to be heard in the fall. As previously disclosed, the Company intends to vigorously defend itself against the class action. For further information on this action, please refer to the January 21, 2019 news release and the Company’s other disclosures.”

Earning a current market cap value of $882.43M, OGRMF has a significant war chest ($95.9M) of cash on the books, which must be weighed relative to about $15.8M in total current liabilities. One should also note that debt has been growing over recent quarters. OGRMF is pulling in trailing 12-month revenues of $23.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 363%. We will update the story again soon as developments transpire. Sign-up for continuing coverage on shares of $OGRMF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $OGRMF, either long or short, and we have not been compensated for this article.

Sign Up for our 100% FREE Oracle Dispatch Newsletter